New Delhi: Niva Bupa health insurance Company Limited has invested in developing digital experience across the entire value chain, and whether it’s onboarding customers or resolving complaints, everything is digital, he said.
“More than 50% of our policies are issued completely digitally without human intervention, and about 90% of our renewals are now done digitally.” Ramachandran said in an interview.
The company, he added, is using new-age technologies like artificial intelligence and machine learning for process automation, fraud mitigation and business revenue generation. It has doubled its market share in retail health insurance category to 8.4 percent in FY23 compared to FY20, Ramachandran he said, confident that the company will maintain a “strong growth trajectory in 2023.”
Business priorities this year will focus on adding segment-based products into the portfolio to meet different customer needs, expanding the hospital network to provide access to cashless treatment for customers, and increasing the penetration of health insurance, according to him.
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